A Supreme Court judgement has rendered the business model of the IAC-backed company, which had raised almost $100m, illegal.
The US Supreme Court has ruled that Aereo, a US-based service that provided broadcast television through online streaming, offers an illegal product.
The company’s investors include internet media company IAC, which first invested in Aereo’s $20.5m series A round in 2012, as well as Himalaya Capital Ventures, FirstMark Capital, Highland Capital Partners, First Round, High Line Venture Partners and SV Angel.
To date, Aereo has raised $97m across four rounds.
By setting up antennas in warehouses to receive TV signals…
